$26 Trillion needed over 13 years to power infrastructure for world’s fastest growing economies

Putting aside issues such as carbon footprint, food, economic fundamentals, infrastructure development and cost is the biggest issue facing the fast-growing economies in Asia. These areas need at least $1.7 trillion in investment every year until 2030 — just to support current levels of growth — according to Asia Development Bank.

 

Fast-growing economies in Asia will need to spend $1.7 TRILLION each year on infrastructure to support current levels of growth.

 

That breaks down as:

  • $6.35 Trillion for South Asia
  • $16.06 Trillion for East Asia
  • $3.15 Trillion for Southeast Asia
  • $38 Billion for the Pacific area
  • $565 Billion for Central Asia.

More than Just a Budget

The challenge isn’t all money. With growing populations, the environmental burdens will necessitate greener energy and infrastructure solutions. Recently,  China announced a major investment in coal plants — which are the opposite of what is needed in this growth scenario. At the same time, China is leading in solar and wind.

 

Although China is leading in solar and wind development, it i also building unprecedented numbers of coal power plants.

 

Currently, 1.3 billion people lack electricity and fully half of the population — more than 3.5 billion — lack internet access. Even basic sanitation and water are not available to millions.

Other countries have such significant gridlock that productivity suffers, costing millions of dollars each day.

 

Gridlock in Asia costs countries millions of dollars in lost productivity daily. Shown, Vietnam.

 

Adding to the burden are education gaps, age gaps and the ongoing ageing crisis. Infrastructure must take into consideration the ageing of the world populations. Even countries such as China and Vietnam are entering into ageing crisis mode. Only one country — Azerbaijan — has a population that is not ageing. Ageing populations put higher demands on infrastructures.

The biggest issue with ageing, of course, is projected economic slowdown. If the infrastructure isn’t built now, while it is affordable, later aged populations will not have the resources available.

 

 

Did you miss this?

Other Popular Stories

  • Canadian company to provide modular housing for refugees in Sweden
  • Detect lung cancer with a nanotech breathalizer? It works, four out of five times, could revolutionize cancer screening
  • Breaking news: Kinder Morgan to cancel its Utica Marcellus Texas Pipeline project
  • GO Transit may deploy hydrogen-power rather than electric; consults with Canadian fuel cell technology company that worked on world's first hydrogen-powered train
  • GPS III set to launch December 18: U.S. Air Force to launch via Space X Falcon 9 paylod; will be harder to jam, more secure and accurate
  • Company opens new landing gear plant for "most important contract" ever
  • NASA Studies Climate Change in Canada’s Skies
  • Canada's economy rebounds with stronger manufacturing, construction
  • China to totally ban gas and diesel in new car market; with interim targets of 20% electric or hybrid by 2025
  • FirstEnergy of Calgary to host ninth London Global Energy Conference
  • California mandates energy storage to bring more renewables into grid
  • Automation, robotics to have profound effect on industry in coming years
  • How Greener Grids Can Stay Lit
  • Manufacturing sector growth slower in May
  • Siemens awarded largest ever contract for onshore wind turbines
  • Infrastructure in focus at Queen's Park as new legislation tabled
  • Lane-Changing Algorithm Improves Driverless Vehicle Performance
  • Cement industry opposes wood construction in taller buildings
  • Renewable energy use increased in US in 2012
  • Manufacturing output grew again in August
Scroll to Top